MONACO, Dec. 01, 2025 (GLOBE NEWSWIRE) -- Safe Bulkers, Inc. (the Company) (NYSE: SB), an international provider of marine drybulk transportation services, announced today that it has authorized a program under which it may from time to time in the future purchase up to 10,000,000 shares of the Company’s common stock. If the maximum number of shares of the Company’s common stock are purchased pursuant to the aforementioned program, it would represent approximately 9.8% of the shares of the Company’s common ...

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Core Viewpoint - Safe Bulkers Inc. has shown significant stock performance with an 8.38% increase in the current session, a 15.98% increase over the past month, and a 40.58% increase over the past year, leading to optimism among long-term shareholders [1] Group 1: Stock Performance - The current trading price of Safe Bulkers Inc. is $5.30 [1] - The stock has increased by 15.98% over the past month [1] - The stock has increased by 40.58% over the past year [1] Group 2: Price-to-Earnings Ratio Analysis - Safe Bulkers has a lower P/E ratio compared to the Marine Transportation industry's aggregate P/E of 65.81, suggesting potential undervaluation [6] - A lower P/E ratio may indicate that shareholders do not expect future growth or that the company is undervalued [5][10] - The P/E ratio should not be used in isolation; other factors such as industry trends and business cycles also impact stock prices [10]

Financial Performance - Safe Bulkers, Inc. reported net revenues of $73.1 million for Q3 2025, an increase from $65.7 million in Q2 2025[12]. - The company achieved a net income of $17.8 million in Q3 2025, compared to $1.7 million in Q2 2025, reflecting a significant recovery in profitability[12]. - Adjusted EBITDA for Q3 2025 was $36.1 million, up from $25.5 million in Q2 2025, indicating improved operational efficiency[12]. - Net revenues for the third quarter of 2025 decreased by 4% to $73.1 million compared to $75.9 million in the same period of 2024[61]. - Net income for the nine-month period ended September 30, 2025, was $26,726 thousand, down 65.7% from $78,015 thousand in the same period of 2024[73]. - Adjusted net income for the three-month period ended September 30, 2025, was $13,874 thousand, a decline of 26.5% from $18,983 thousand in the same period of 2024[75]. - EBITDA for the nine-month period ended September 30, 2025, was $93,107 thousand, a decrease of 35.6% compared to $144,523 thousand in the same period of 2024[75]. - The net cash provided by operating activities for the nine-month period ended September 30, 2025, was $69.1 million, down from $101.0 million in the same period of 2024[73]. Fleet and Vessels - As of November 21, 2025, the fleet consisted of 45 vessels with an average age of 10.3 years, including 12 vessels compliant with IMO GHG Phase 3 regulations[28]. - The company has an orderbook of six newbuilds, including two methanol dual-fueled vessels, scheduled for delivery in 2026 and 2027[29]. - The company operated 46.51 vessels on average during the third quarter of 2025, compared to 45.27 vessels in the same period of 2024[61]. - The number of vessels remained stable at 45 as of both September 30, 2024, and September 30, 2025[80]. - The company has a total fleet capacity of 4,559,000 Dwt, with various charter rates ranging from $11,750 to $29,543 per day[87]. - The fleet scrap value was $274.0 million as of September 30, 2025, and increased to $280.0 million by November 21, 2025[44][47]. Cash and Debt Management - Total cash as of Q3 2025 was $123.9 million, with undrawn revolving credit facilities amounting to $266.5 million, providing financial flexibility[19]. - As of September 30, 2025, the consolidated debt was $525.0 million, with a consolidated leverage of approximately 35%[37]. - The company had $123.9 million in cash and cash equivalents as of September 30, 2025, and $266.5 million in undrawn borrowing capacity[42]. - Cash and cash equivalents decreased to $115,246 thousand as of September 30, 2025, from $128,422 thousand as of December 31, 2024[74]. Operational Efficiency - The average daily Time Charter Equivalent (TCE) rate was $15,507 in Q3 2025, down from $17,108 in Q3 2024, showing market fluctuations[33]. - Daily vessel operating expenses decreased by 4% to $5,104 for the third quarter of 2025 compared to $5,311 for the same period in 2024[70]. - Interest expense decreased to $7.6 million in the third quarter of 2025 from $7.7 million in the same period of 2024, despite an increase in the weighted average loan outstanding[69]. - The average TCE for the third quarter of 2025 was $15,507, down from $17,108 in the same period of 2024, reflecting a weaker charter market[61]. Dividends and Shareholder Returns - A cash dividend of $0.05 per share was declared, reflecting the company's commitment to returning value to shareholders[11]. - The company declared a cash dividend of $0.05 per share on November 25, 2025, payable on December 19, 2025[49]. Market and Strategic Outlook - The company has experienced risks related to market volatility, fuel prices, and operational disruptions due to external factors[111]. - The company emphasizes the importance of monitoring changes in demand for dry-bulk vessels and competitive market factors[111]. - The company is actively expanding its fleet with new builds and acquisitions, focusing on long-term charters to secure revenue[87]. - The company has plans for future vessel acquisitions and further time charters as part of its growth strategy[111]. Charter Agreements - The average duration of time charters is approximately 3 to 10 years, providing stable revenue streams[90]. - The company has secured new charters with rates such as $17,250 for the Ammoxostos and $16,900 for the Rizokarpaso, both with charter periods extending into 2026[87]. - The charter agreement for MV Kanaris agreed to reimburse $634 per day for scrubber and BWTS costs, increasing the recognized daily charter rate[91]. - The company has a time charter agreement for 22 to 26 months at a gross daily rate of $20,000, with an option to extend to 34 to 36 months[108]. - A time charter for 8 to 11 months was set at a daily gross rate of $10,400 for the first 45 days, increasing to $14,700 thereafter[106]. - The company entered into a time charter for MV Ammoxostos for a duration of ten years with purchase options starting three years after the charter commencement[105]. - The charter agreement for MV Efrossini includes multiple extensions with varying daily rates, reflecting strategic flexibility in operations[107].

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Core Insights - CD Projekt, Poland's largest game developer, reported a 148% year-on-year increase in third-quarter net profit, driven by strong sales from its back catalog of games [1] Financial Performance - The company experienced a significant rise in net profit, indicating robust financial health and effective sales strategies [1] Sales Performance - Strong sales from the back catalog of games contributed to the impressive profit growth, highlighting the importance of legacy titles in the company's revenue generation [1]

Financial Data and Key Metrics Changes - Adjusted EBITDA for Q3 2025 was $36.1 million, down from $41.3 million in Q3 2024, reflecting a decrease in revenues due to lower charter highs [14] - Adjusted earnings per share for Q3 2025 was $0.12, compared to $0.16 in the same period last year [14] - Average time charter equivalent (TCE) decreased to $15,507 in Q3 2025 from $17,108 in Q3 2024 [15] - Daily vessel running expenses decreased by 4% to $5,104 in Q3 2025 from $5,311 in Q3 2024 [15] Business Line Data and Key Metrics Changes - The company sold two of its oldest vessels as part of its fleet renewal strategy [3] - The fleet now includes 12 phased new vessels delivered from 2022 onwards, with 24 vessels environmentally upgraded [5] Market Data and Key Metrics Changes - The dry bulk fleet is projected to grow by about 3% on average in 2025 and 2026, with asset prices expected to rise in line with the freight market [4] - Global dry bulk demand growth is forecasted at 2% in 2026 and 1.5% in 2027, with grains and minor bulks being the best-performing sectors [7] Company Strategy and Development Direction - The company maintains a strong capital structure, providing flexibility in capital allocation and has declared a dividend of $0.05 per share [3] - Focus on fleet energy efficiency and lower CO2 taxation, with zero vessels rated D and E in carbon intensity for 2024 [11] Management Comments on Operating Environment and Future Outlook - Management noted a weaker charter market environment in Q3 2025 compared to the same period in 2024, with geopolitical factors contributing to market volatility [3][14] - The company anticipates an improving trade market rate due to a trade truce between the U.S. and China [6] Other Important Information - The company has a market cap of $496 million and maintains significant liquidity with $390 million in capital resources [11] - The company has a revenue backlog of $154 million, underscoring its capacity to support debt service and shareholder returns [17] Q&A Session Summary - No questions were raised during the Q&A session, and management concluded the call by thanking participants [18][20]

Financial Data and Key Metrics Changes - Adjusted EBITDA for Q3 2025 was $36.1 million, down from $41.3 million in Q3 2024, indicating a decrease in profitability [14] - Adjusted earnings per share for Q3 2025 was $0.12, compared to $0.16 in the same period last year [14] - Average time charter equivalent decreased to $15,507 in Q3 2025 from $17,108 in Q3 2024 [15] - Daily vessel running expenses decreased by 4% to $5,104 in Q3 2025 from $5,311 in Q3 2024 [15] Business Line Data and Key Metrics Changes - The company sold two of its oldest vessels as part of its fleet renewal strategy [3] - The fleet now includes 12 phased new vessels delivered from 2022 onwards, with 24 vessels environmentally upgraded [5] Market Data and Key Metrics Changes - The dry bulk fleet is projected to grow by about 3% on average in 2025 and 2026, with asset prices expected to rise in line with the freight market [4] - Global dry bulk demand growth is forecasted at 2% in 2026 and 1.5% in 2027, with grains and minor bulks being the best-performing sectors [7] Company Strategy and Development Direction - The company maintains a strong capital structure, providing flexibility in capital allocation and has declared a dividend of $0.05 per share [3] - Focus on fleet energy efficiency and leveraging the majority Japanese-built fleet advantage [11] Management's Comments on Operating Environment and Future Outlook - The management noted a weaker charter market environment compared to the same period in 2024, with decreased revenues due to lower charter highs [14] - The geopolitical tensions and market fragmentation are expected to increase market volatility [3] Other Important Information - The company has a market cap of $496 million and maintains significant liquidity with $390 million in capital resources [11] - The company achieved zero vessels in D and E carbon intensity CII rating for 2024, reflecting its commitment to sustainability [10] Q&A Session Summary - No questions were raised during the Q&A session, and the management concluded the call without further comments [18][19]

Financial Data and Key Metrics Changes - Adjusted EBITDA for Q3 2025 was $36.1 million, down from $41.3 million in Q3 2024, indicating a decrease of approximately 12.5% [15] - Adjusted earnings per share for Q3 2025 was $0.12, compared to $0.16 in the same period last year, reflecting a decline of 25% [15] - Average time charter equivalent (TCE) decreased to $15,507 in Q3 2025 from $17,108 in Q3 2024 [16] - Daily vessel running expenses decreased by 4% to $5,104 in Q3 2025 from $5,311 in Q3 2024 [16] Business Line Data and Key Metrics Changes - The company sold two of its oldest vessels as part of its fleet renewal strategy, which is ongoing [3] - The fleet now includes 12 phased new vessels delivered from 2022 onwards, with 24 vessels having been environmentally upgraded [5] Market Data and Key Metrics Changes - The dry bulk fleet is projected to grow by about 3% on average in 2025 and 2026, with the order book now below 11% of the current fleet [4] - Global dry bulk demand growth is forecasted at 2% in 2026 and 1.5% in 2027, with grains and minor bulks being the best-performing sectors [8] Company Strategy and Development Direction - The company maintains a strong capital structure, providing flexibility in capital allocation, and has declared a dividend of $0.05 per share [3] - Focus on fleet energy efficiency and leveraging the majority Japanese-built fleet advantage [12] Management's Comments on Operating Environment and Future Outlook - Management noted a weaker charter market environment compared to the same period in 2024, with decreased revenues due to lower charter highs [14] - The company anticipates an improving trade market rate due to a trade truce between the US and China [7] Other Important Information - The company has a market cap of $496 million and maintains significant liquidity with $390 million in capital resources [12] - The company achieved zero vessels rated D and E in carbon intensity for 2024, reflecting its commitment to sustainability [11] Q&A Session Summary - No questions were raised during the Q&A session, and the management concluded the call without further comments [19][20]

Market Overview - The global dry bulk fleet is aging, with 25% being over 15 years old[8] - Japan accounts for 42% of the global dry bulk fleet[8] - The dry bulk orderbook represents 107% of the existing fleet[8] - Approximately 15% of the dry bulk orderbook will be able to use alternative fuels upon delivery[8] - Global GDP is projected to grow by 31% in 2026 and 32% in 2027[17] - Global inflation is expected to be 37% in 2026 and 34% in 2027[17] - Dry bulk demand is forecasted to increase by 2% in 2026[17] - Supply is expected to increase by 28% in 2026 and 27% in 2027[21] Company Financials - The company declared a quarterly dividend of $005 per share, resulting in a 41% dividend yield[26] - Net revenues for the quarter were $731 million[26]